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The MarTech Digest
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Intermediate/ Digest... Recruiting firm Spencer Stuart surveyed more than 160 senior marketing leaders and found that while the majority, 70%, of those surveyed believe that creativity is just as important as analytical ability, far fewer respondents, 19%, feel their teams strike the right balance.
Finding talent with a proper blend of the creative and analytical is a challenge, say the CMOs, especially amid fierce competition for the scarce experts with both skills. Compounding the challenge is the fact that there is no single go-to source for talent, according to survey respondents. The vast majority (91%) of respondents look externally for talent with affinities for both the creative and analytical.
Competitors within the sector were viewed as viable sources of talent for 22% of respondents; 16% look to the technology industry; and another 16% tap historically creative sectors such as advertising and media. More than one-third (37%) said that they find talent from “other” sources, including strategy consulting firms and startups to analytics companies and other sectors (e.g., consumer products, retail, financial services).
The laundry list of desired skills for marketing leaders continues to grow: analytical orientation, creativity, strategic mindset, digital expertise, general management, innovation, customer insight, financial acumen, change leadership, global perspective and talent development. The majority (86%) of respondents believe it will be possible to find this full gamut of skills within one person in the future.
Boards are placing more scrutiny on digital initiatives, and many marketing leaders reported that their boards have heightened expectations for demonstrated ROI.
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Joemktg's insight:
Having the right resources in place is the number one issue today for the data-driven marketing organization. 
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Advanced/ Condensed... The Adobe study, “Digital Roadblock: Marketers Struggle to Reinvent Themselves,” found that 76 percent of marketers said they need to embrace data to succeed, but only 39 percent said they are actually using consumer data and behavior information to inform their marketing strategies. Part of the issue is revamping the marketing team so it is more open to data and more capable of analyzing it. The study found that 38 percent of marketers have prioritized hiring digital analysts.
The Salesforce.com study, “Bridging the Digital Divide: How CMOs Can Rise to Meet Five Expanding Expectations,” reached a similar conclusion, with 52 percent of its respondents expressing a greater need for “personnel with data and analytics expertise.” That’s because 61 percent of marketers said their top internal priority was increased “data acquisition.” The survey found that marketers craved data to optimize their programs, to drive demand, and to personalize customer and prospect experiences.
____________________________________________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
Joemktg's insight:
You've got to have the people in place to make this happen, or you have to outsource it. Walking the walk.
Emmanuel Klotz's curator insight,
April 8, 2014 3:36 AM
2 studies, one from Adobe and one from Salesforce.com show the growing importance of data in the role of the CMO, and yet the long way to go still... According to Adobe, about 50% of marketers say they trust their gut on where to invest their marketing budget... 
Joemktg's curator insight,
May 19, 2014 6:48 AM
You've got to have the people in place to make this happen, or you have to outsource it. Walking the walk.
Scoop.it!
Advanced/ Condensed... The Adobe study, “Digital Roadblock: Marketers Struggle to Reinvent Themselves,” found that 76 percent of marketers said they need to embrace data to succeed, but only 39 percent said they are actually using consumer data and behavior information to inform their marketing strategies. Part of the issue is revamping the marketing team so it is more open to data and more capable of analyzing it. The study found that 38 percent of marketers have prioritized hiring digital analysts.
The Salesforce.com study, “Bridging the Digital Divide: How CMOs Can Rise to Meet Five Expanding Expectations,” reached a similar conclusion, with 52 percent of its respondents expressing a greater need for “personnel with data and analytics expertise.” That’s because 61 percent of marketers said their top internal priority was increased “data acquisition.” The survey found that marketers craved data to optimize their programs, to drive demand, and to personalize customer and prospect experiences.
____________________________________________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
Joemktg's insight:
You've got to have the people in place to make this happen, or you have to outsource it. Walking the walk.
Joemktg's curator insight,
April 6, 2014 8:51 PM
You've got to have the people in place to make this happen, or you have to outsource it. Walking the walk.
Emmanuel Klotz's curator insight,
April 8, 2014 3:36 AM
2 studies, one from Adobe and one from Salesforce.com show the growing importance of data in the role of the CMO, and yet the long way to go still... According to Adobe, about 50% of marketers say they trust their gut on where to invest their marketing budget...
Scoop.it!
Advanced/ Digest... Here are three reasons why you, as a marketer, want to have a high data IQ. 1. Data gives you creative freedom When I have data, I can say yes because I can watch the idea's success (or failure) in real time. Things aren't working out? Pull the plug. Is the idea working better than anticipated? Put more resources against it, or mirror that campaign for other targets and continue testing.
2. You can create better marketing plans When you have data behind every strategy you use, the job of creating a marketing plan is no longer mired in "what works and what doesn't" but becomes "what works and what works better."
3. You can drive your own compensation With every step up the corporate ladder, my compensation has become increasingly tied to marketing spend ROI. And I'm not the only one. Whether part of a compensation package or the meat of a bonus structure, ROI is counting in more marketers' compensation plans today. When you have control over your data, you have control over everything.
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► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
Joemktg's insight:
With data, hyperbole, hubris and "expertise" goes right out the window. Data kills: be on the right side of the street.
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Six behaviors that stymie managers and companies. Digest... I've distilled six bad habits that stymie managers and companies from taking full advantage of their data. You prefer intuition over the data. You rig the system. You second-guess others. The true spirit of second-guessing involves withholding potentially useful information, then pouncing the minute a decision goes wrong. We've all made mistakes and practically all of us have been second-guessed. Just because the trait is common, does not mean it is not destructive. Withholding information breeds mistrust and pouncing leads many to make more conservative and easily-defended, but sub-optimal, decisions. One observes this trait all the time in overly-political individuals and companies. You have analysis-paralysis. You employ group think. Group think involves packing a decision-making group with people who think in the same way and ignoring those with divergent views or data that points in a different direction. To illustrate the impact, imagine a situation in which there are one hundred options, several of which are "good" and one that is "best. Group think is akin to limiting yourself to only ten options. You greatly reduce your chances of arriving at a good one. You have misconceptions of or arrogance about data quality.
Joemktg's insight:
As we move further and further into data driven B2B marketing, these qualitative roadsigns are an important part of managing the human psyche. Always a challenge to merge data with humanity to arrive at the best decision.
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Today's successful marketers are moving beyond digital marketing and embracing data marketing. They are becoming proficient in using first-party buyer data and third-party data to better understand buyers. Key excerpt... Two factors drive this evolution to “data marketing.” The first is that digital marketing, while still a relatively new marketing practice, is nevertheless becoming less of a competitive advantage and differentiator. A surplus of skilled digital marketers has glutted the workforce, and nearly all successful businesses have already adopted digital marketing techniques. The second factor is that the well-known “Big Data” phenomenon is radically changing the competitive landscape for marketers in the following ways…
Joemktg's insight:
Significant disagreement with the notion that the "glut" of digital marketers will drive data marketing. Data marketing requires a completely different skill set, steeped in analytics, statistics and algorithms. A digital marketer is a broad term that covers a wide ranged of expertise, not necessary data marketing skills. If you get specific, you'll find a dearth of data marketing experts out in the marketplace.
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Most likely, your opportunity for 2015 has passed by. However, think 2016 and what you need to do NOW to prepare for that budget: get your measurements, metrics, tracking in place today!